Petroamerica Oil (TSX: V.PTA, Stock Forum) late Thursday reported results of ongoing testing operations at its Las Maracas-5 well in Colombia, which flowed approximately 3,700 barrels of oil per day from the middle Gacheta sand only, this according to a company news release. This rate does not include production from the lower Gacheta sand.
The company added that the well will now be completed as a Gacheta producer following which the Tuscany 109 rig is expected to be skidded to drill the Las Maracas-6 well.
Petroamerica holds a 50% participating interest in the Los Ocarros block where the Las Maracas-5 well is located.